SBA

As lawmakers weigh PPP reforms, bankers want them to think big

08/04/20

Besides reauthorizing the Paycheck Protection Program, Congress should upgrade the loan forgiveness process, offer businesses the chance to take out a second loan and ensure the pricing satisfies lenders, bankers say.

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McConnell announces new round of PPP funds in GOP stimulus plan

07/27/20

The Senate Republicans' coronavirus relief package, known as the HEALS Act, would continue to make the loan program available to businesses, but any final bill would need to be negotiated with House Democrats.

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Congress wants to extend PPP, lenders ready to move on

07/21/20

Many bankers want to focus more on the forgiveness process, assessing the status of deferrals and pursuing traditional lending opportunities.

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Credit union joins list of lenders selling PPP originations

07/15/20

Greater Nevada Credit Union, like a number of community banks, agreed to sell its Paycheck Protection Program loans to avoid navigating the complicated forgiveness process.

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Republic in Ky. hires former CEO of Black-run bank to run loan program

07/14/20

Pedro Bryant will oversee a $3 million effort to fund small businesses in disadvantaged communities.

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PPP spotlights shortcomings in credit unions' small-business push

07/10/20

For all banks' claims that credit unions pose a threat to their commercial lending market share, they've accounted for just 2% of volume in the Paycheck Protection Program.

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Banks seek more fintech help for PPP's next phase

07/10/20

After tech firms assisted community bankers in processing applications in the Paycheck Protection Program, small-business lenders are continuing to engage with cloud providers and other outside companies to automate the loan forgiveness process.

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House clears extension of PPP to August

07/02/20

The Senate had passed the bill Tuesday, shortly before the Small Business Administration was to stop accepting new loan applications.

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As PPP enters forgiveness phase, some banks see outsourcing as best move

06/30/20

Lenders are selling their Paycheck Protection Program loans or hiring outside companies to navigate the process in an effort to reduce risk and avoid overloading their employees.

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